Telenav (NASDAQ:TNAV) Rating Reiterated by Northland Securities

Northland Securities reissued their hold rating on shares of Telenav (NASDAQ:TNAV) in a report published on Thursday morning, AnalystRatings.com reports.

TNAV has been the subject of several other research reports. ValuEngine downgraded Telenav from a hold rating to a sell rating in a report on Wednesday, October 30th. Zacks Investment Research raised Telenav from a hold rating to a buy rating and set a $12.00 price target for the company in a report on Friday, August 16th. Craig Hallum downgraded Telenav from a buy rating to a hold rating and cut their price target for the company from $13.00 to $5.00 in a report on Thursday, September 5th. B. Riley cut their price target on Telenav from $10.50 to $7.50 and set a buy rating for the company in a report on Friday, September 6th. Finally, BidaskClub downgraded Telenav from a strong-buy rating to a buy rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $8.88.

Telenav stock traded up $0.07 during mid-day trading on Thursday, hitting $5.44. 522,875 shares of the company’s stock traded hands, compared to its average volume of 462,825. The firm has a 50 day simple moving average of $4.73 and a two-hundred day simple moving average of $7.20. Telenav has a fifty-two week low of $3.35 and a fifty-two week high of $11.67. The stock has a market cap of $236.03 million, a price-to-earnings ratio of -8.37 and a beta of 0.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.92 and a quick ratio of 1.92.

In other news, CEO H.P. Jin bought 50,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $4.94 per share, with a total value of $247,000.00. Following the completion of the acquisition, the chief executive officer now owns 2,273,927 shares of the company’s stock, valued at $11,233,199.38. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hassan Wahla sold 25,511 shares of Telenav stock in a transaction on Friday, August 30th. The stock was sold at an average price of $11.43, for a total value of $291,590.73. Following the sale, the insider now directly owns 92,786 shares of the company’s stock, valued at approximately $1,060,543.98. The disclosure for this sale can be found here. Insiders have sold 45,511 shares of company stock valued at $507,591 in the last three months. Insiders own 21.32% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Telenav by 21.0% during the third quarter. Tower Research Capital LLC TRC now owns 15,727 shares of the technology company’s stock worth $75,000 after buying an additional 2,725 shares in the last quarter. Ibex Investors LLC acquired a new stake in shares of Telenav during the third quarter worth $105,000. Russell Investments Group Ltd. lifted its holdings in shares of Telenav by 154.0% during the third quarter. Russell Investments Group Ltd. now owns 156,965 shares of the technology company’s stock worth $751,000 after buying an additional 95,173 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Telenav by 6.0% during the third quarter. Rhumbline Advisers now owns 44,338 shares of the technology company’s stock worth $212,000 after buying an additional 2,503 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Telenav during the third quarter worth $64,000. 50.75% of the stock is owned by institutional investors.

About Telenav

Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.

Featured Story: Is the QQQ ETF safe?

Receive News & Ratings for Telenav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav and related companies with MarketBeat.com's FREE daily email newsletter.